Insider Selling: Newmont (NYSE:NEM) EVP Sells 13,378 Shares of Stock

Newmont Corporation (NYSE:NEM) EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Newmont Stock Down 0.4%

Shares of NYSE NEM traded down $0.39 during trading hours on Monday, hitting $108.23. 5,627,444 shares of the stock were exchanged, compared to its average volume of 9,978,618. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a market cap of $115.54 billion, a PE ratio of 14.04, a PEG ratio of 1.55 and a beta of 0.43. The firm has a fifty day moving average price of $113.57 and a 200-day moving average price of $105.57. Newmont Corporation has a 12 month low of $48.27 and a 12 month high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. On average, sell-side analysts expect that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

Analysts Set New Price Targets

Several research analysts recently commented on NEM shares. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Macquarie Infrastructure upped their price target on shares of Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Scotiabank cut their price target on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. Royal Bank Of Canada upped their price target on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $142.51.

Institutional Trading of Newmont

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after acquiring an additional 637,996 shares during the last quarter. State Street Corp boosted its holdings in shares of Newmont by 1.0% in the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after acquiring an additional 480,223 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after acquiring an additional 5,643,496 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after acquiring an additional 946,824 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Newmont in the 4th quarter valued at $1,443,128,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.